{"id":176329,"date":"2023-10-18T09:09:10","date_gmt":"2023-10-18T03:39:10","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=176329"},"modified":"2023-10-18T09:09:10","modified_gmt":"2023-10-18T03:39:10","slug":"bitcoin-price-is-about-to-see-liftoff-if-its-able-to-hold-one-crucial-level-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-price-is-about-to-see-liftoff-if-its-able-to-hold-one-crucial-level-crypto-news\/","title":{"rendered":"Bitcoin Price is About to See \u201cLiftoff\u201d if It\u2019s Able to Hold One Crucial Level &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Bitcoin price is consolidating above the $28,000 support. BTC could gain bullish momentum if it clears the $28,550 resistance zone.<\/em><\/p>\n<ul>\n<li>Bitcoin started a consolidation phase below the $28,500 level.<\/li>\n<li>The price is trading above $27,800 and the 100 hourly Simple moving average.<\/li>\n<li>There is a short-term contracting triangle forming with resistance near $28,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start a fresh increase if there is a clear move above the $28,550 resistance.<\/li>\n<\/ul>\n<h2>Bitcoin Price Aims Fresh Increase<\/h2>\n<p>Bitcoin price retreated and trimmed gains from the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-rally-toward-30k\/\">$30,000 resistance zone<\/a>. BTC traded below the $29,200 and $28,800 levels to move back into a short-term negative zone.<\/p>\n<p>However, the bulls were active near the $28,000 zone. A low was formed near $28,100 and the price started a consolidation phase. There was a move above the $28,250 level. The price tested the 23.6% Fib retracement level of the downward move from the $30,000 swing high to the $28,100 low.<\/p>\n<p>Bitcoin price is now trading above $28,000 and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-correction-27500-2\/\">100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $28,550 level. There is also a short-term contracting triangle forming with resistance near $28,500 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The next key resistance could be near $29,000 or the 50% Fib retracement level of the downward move from the $30,000 swing high to the $28,100 low. A clear move above the $29,000 resistance zone could set the pace for a larger increase. The next key resistance could be $29,500.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Bitcoin-12.png?resize=1024%2C468\"><\/a><\/p>\n<p>Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\">BTCUSD on TradingView.com<\/a><\/p>\n<p>If the bulls remain in action, the next stop above $29,500 could be $30,000. Any more gains might send BTC toward the $30,650 level.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $28,550 resistance zone, it could slide further. Immediate support on the downside is near the $28,350 level and the triangle region.<\/p>\n<p>The next major support is near the $28,000 level. A downside break and close below the $28,000 support might send the price further lower. The next support sits at $27,600 and the 100 hourly Simple moving average.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $28,350, followed by $28,000.<\/p>\n<p>Major Resistance Levels \u2013 $28,550, $29,000, and $29,500.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is consolidating above the $28,000 support. BTC could gain bullish momentum if it clears the $28,550 resistance zone. Bitcoin started a consolidation phase below the $28,500 level. The price is trading above $27,800 and the 100 hourly Simple moving average. There is a short-term contracting triangle forming with resistance near $28,500 on the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":33524,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-176329","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176329","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=176329"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176329\/revisions"}],"predecessor-version":[{"id":176330,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176329\/revisions\/176330"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/33524"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=176329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=176329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=176329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}